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Inter ISO Market Coordination by Calculating Border Locational Marginal PricesBABIC, A. B. , SARIC, A. T.
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Inter ISO Market Coordination, Border Locational Marginal Price (LMP), Optimal Power Flow (OPF)
power(18), systems(8), optimal(6), market(5), flow(5), congestion(5), link(4)
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About this article
Date of Publication: 2013-05-31
Volume 13, Issue 2, Year 2013, On page(s): 47 - 54
ISSN: 1582-7445, e-ISSN: 1844-7600
Digital Object Identifier: 10.4316/AECE.2013.02008
Web of Science Accession Number: 000322179400008
SCOPUS ID: 84878919184
In this paper the methodology for solving Locational Marginal Price (LMP) differences (inconsistency of LMPs) that arise at the boundary buses between separate power markets is proposed. The algorithm developed enables us to obtain consistent LMP values at the boundary buses between interconnected ISOs. A Primal-Dual Interior Point based optimal power flow (OPF) is applied, with complete set of power system physical limit constraints, to solve a regional spot market. The OPF is implemented such that producer and consumer behaviors are modeled simultaneously, while the welfare is maximized. In this paper a generalized methodology for multiple ISOs case is proposed and later it is practically applied on two interconnected independent entities. The algorithm for approximation of cost coefficients of generators and dispatchable loads for neighboring ISOs is proposed. The developed algorithm enables participating ISOs to obtain LMPs at the boundary buses with other interconnected ISOs. By controlling interchange of electric power at the scheduled level, regional spot markets are resolved eliminating possible exercise of market power by individual interconnected ISOs. Results of proposed methodology are tested on the IEEE 118-bus power system.
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